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XAUUSD 1D Cypher Pattern Corrective Structure Since March 18 2014, FX:XAUUSD is experiencing a down trend corrective structure, and still in this trend.
Since May 05 2015, XAUUSD is going to complete a Cypher Pattern.
Coincidentally, the end of Cypher Pattern and the upper of the Corrective Structure are both around 1190.
Now the price is around 1155 (50% level of Fibonacci, XA)
Buy at 1170 ((61.8% level of Fibonacci, XA))
TP: 1190 (76.4% level of Fibonacci, XA)
SL: 1150
XAU/USD GOLD Weekly Update (9/1/16)Level to watch: Support 1099.6x, 1087.15, Resistance 1120 and 1149
I am Very Bullish, It will use 1097 to 1100 region as support, for further advance. I am looking at 118.9 to 1120 range and next will be 1140.
Yet do not overjoy for bull, we have much overhead resistant to break out.